Have you ever had a brand DM you on Social Media asking if you’d be interested in doing a collaboration?
It can be quite flattering, and often you’ll jump at the opportunity and provide them with free marketing without taking the time to actually think about it and what you get out of it.
Here are a few pointers to help you decide whether you should collab with brands and how much you should charge them if you do:
Does the brand align with yours?
If you’re in the health and fitness industry and a fast food franchise reaches out to you to do a collab, it’s probably best that you decline. As much as a few free junk meals would be cool, it doesn’t mean you should go for it. You should always consider if the brand that’s reaching out to you aligns with the message you’re trying to get across to your followers.
What about trade exchanges?
Trade exchanges are cool if the company is offering something you value, but if you find that you’re doing a whole lot of marketing and only receiving a few items in exchange, it’s time to really evaluate whether you’re okay with just a trade exchange.
Okay, so how would I go about charging brands to collab?
There are a few factors that will determine how much an influencer should charge, them being:
- The influencers reach and engagement
- The channel they use (Instagram, Twitter, Facebook, TikTok, etc)
- How many posts the brand wants and if they include things like images, videos, and audio or if the influencer needs to make content themselves for the brand
- How much effort it will require from the influencer
- Where the ad will be promoted/cross-posted
- Agency fees (if the influencer is with an influencer marketing agency)
Once all of the above has been determined you’ll have a better idea of what to charge and what you charge depends on you! Because influencer marketing is still fairly new and it differs from influencer to influencer, it’s up to you on how much you’re willing to be paid to do work for a brand.
But what if I only have a small following?
Whether you’re a micro-influencer or a macro influencer, you can still charge brands to collab with you. Studies have shown that some micro-influencers actually have a higher engagement rate than influencers with a greater number of followers. Macro influencers have a greater reach as they have more followers BUT having more followers isn’t always better.
Although Macro influencers can reach more people, micro-influencers are able to hone in on a specific niche and their audience will often view them as experts in their particular field.
So if you think that you’re not able to charge brands because you have a smaller following, think again!
Author: Logan Leigh Rix
Logan blends her passion and profession by working as a digital and social media marketer and content creator in the fitness, health and wellness industry. She’s also a personal trainer, former Face of Fitness finalist and Fitness Magazine featured athlete.